Otto Marine seeks to enhance Batam shipyard capacity
Monday, January 11 2016 - 01:40 AM WIB
SGX-listed Otto Marine Limited, a leading offshore marine company that specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, said Monday that its wholly-owned subsidiary, Otto Marine Shipyard Pte Ltd has entered into a MoU with a world-renowned port operator to explore the potential development of a fabrication and marine facility in Batam, Indonesia.
The company said in a statement that the proposed fabrication and marine facility is strategically located in close proximity to Singapore and to the South East Asia region oil and gas fields.
Otto Shipyard currently operates a 65 hectare shipyard in Batam through its sister company PT Batamec. ?The proposed development will use a fraction of the yard space and is not expected to cause any disruption on PT Batamec?s existing shipyard facilities. The proposed development is expected to be fully operational by July 2017,? Otto Marine said in the statement.
The company did not disclose the identity of the port operator.
PT Batamec?s shipyard is situated in the north-west of Batam Island Indonesia and its principal activities include shipbuilding, ship repair and conversion, steel fabrication and offshore oil and gas fabrication.
Editing by Reiner Simanjuntak